Dáil Éireann díospóireacht -
Thursday, 13 Jun 1996

Vol. 466 No. 8

Written Answers. - Valuation of Premises.

Brendan Smith

Ceist:

76 Mr. B. Smith asked the Minister for Finance if his attention has been drawn to concerns regarding the increase in the valuation of premises, particularly small business premises, following the carrying out of improvement works such as the provision of new shop fronts which enhance considerably the appearance of towns and villages; his views on whether such additional rates impositions are a fair burden on these business people and are a serious disincentive to investment; the proposals, if any, he has to remove such disincentives; and if he will make a statement on the matter. [12447/96]

Minister for Finance (Mr. Quinn)

The basis of rateable valuation of commercial property is net annual value i.e. the rental value of the property. Under the Valuation Acts any improvements, alterations or change of use that affects the rental value of a property must be taken into account in assessing the rateable valuation. The provision of a new shop front might or might not lead to a change in the rateable valuation. Any ratepayer dissatisfied with a valuation assessment has a right of appeal to the Commissioner of Valuation, in the first instance, and, subsequently, to the independent Valuation Tribunal.